Global Business Concepts and Strategies

This lesson explores the global impact of entrepreneurship, focusing on e-commerce, globalization, and conglomerates. It highlights the role of small businesses in the global economy, providing statistics and opportunities for growth. The lesson also covers key considerations for global business operations, including cultural diversity, legal compliance, and economic factors.

What is the primary objective of this lesson on the global impact of entrepreneurship?

• To evaluate the global impact of entrepreneurship on society

• To understand local business trends

• To focus on regional economic growth

• To learn about historical business practices

Which company is known as a major player in global e-commerce?

• Tesla

• Facebook

• Alibaba

• Microsoft

What is a conglomerate?

• A non-profit organization

• A company that only operates locally

• A corporation with multiple diverse business entities

• A small business with a single focus

What percentage of businesses globally are considered small?

• 90%

• 70%

• 30%

• 50%

How do online platforms benefit small businesses in the global marketplace?

• By limiting their market reach

• By reducing their product range

• By increasing infrastructure costs

• By enabling them to reach a global audience

What is an example of a small business leveraging digital marketing?

• A bookstore using word-of-mouth

• A coffee roaster gaining international recognition through social media

• A local bakery using flyers

• A restaurant using local radio ads

Why is understanding cultural diversity important in global business?

• To reduce product quality

• To focus solely on domestic markets

• To ensure effective global communication

• To ignore local customs

What must businesses consider regarding legal compliance in international markets?

• Adhering to diverse labor laws

• Focusing only on local laws

• Ignoring trade regulations

• Avoiding intellectual property protection

How do currency exchange rates affect global business?

• They only influence local sales

• They have no impact

• They stabilize market conditions

• They affect the cost of imports and exports

What is a key factor in ensuring a resilient global supply chain?

• Focusing on a single supplier

• Reducing product variety

• Ignoring geopolitical factors

• Diversifying suppliers